Shares of Nazara Technologies Limited surged nearly 4% on June 28 after the gaming firm’s subsidiary signed an agreement to acquire an 86.49% stake in Freaks 4U Gaming for ₹271.48 crore through a share swap.
At 12:13 PM, Nazara Tech’s stock price was trading 3.63% higher at ₹842.85 on NSE
The acquisition will be carried out by Nodwin Gaming International, a wholly-owned subsidiary of Nodwin Gaming Private Limited, which is a material subsidiary of Nazara Technologies.
This deal is expected to help Nodwin Gaming improve its penetration in developed markets and serve as a significant revenue driver, according to the company.
Nazara Tech’s recent moves have shown strong growth potential, including a surge to a 52-week high after a promoter sold a stake to Plutus Wealth, and raising ₹100 crore from Nikhil Kamath.
